Uber lost $3.7 billion during its last three quarters

Alejandro Massey |Thursday, February 15, 2018

Uber Is Still Losing Carloads Of Money

Khosrowshahi also addressed the company's public image which he believes was "appropriately negative", but insists that he was pleasantly surprised to find that the company has "good people", who are committed to changing the world of transportation.

How much these stocks will be actually worth will depend on how the company fares when it goes public.

Uber might have its origins in taxis, but, just like Amazon started off selling books before expanding into electronics and grocery stores, could now be looking to expand into other forms of transport - including the humble bicycle.

Uber CEODara Khosrowshahi, whose company just stared down that same question late a year ago as it negotiated a high-stakes deal with the $100 billion fund, gave voice to that intellectual exercise today as he offered an overview of his business to Goldman Sachs clients and investors.

Ride-share titan Uber on Tuesday revealed that its losses previous year swelled despite signs in the final three months that it was stemming the red ink.

Khosrowshahi also offered more of an explanation on Wednesday on last week's decision to settle the lawsuit filed by Alphabet over whether Uber stole self-driving technology secrets from Waymo, Alphabet's subsidiary.

Waymo's allegation was that this technology had been stolen by Levandowski.

Kalanick acquired Otto and Levandowski was offered the role of head of Uber's self-driving project by Kalanick, but was demoted and then finally fired as the contention between Uber and Google got more and more acrimonious. The settlement came after four days of trial testimony that included a dramatic appearance by Kalanick, who fended off accusations of orchestrating a elaborate high-tech heist during more than two hours on the witness stand. However, it just became clearer that it would be very hard for Google to prove its allegations.

The ride-hailing service provider is now spending less on customer support and advertising, though the former unit is still understood to be performing in accordance with the company's expectations, i.e.it's effectively managing to do more with less.

Uber is huge and blowing a lot of cash to stay huge. The settlement also means that Uber no longer as to admit to guilt on any matter. Mr Khosrowshahi took over from ousted co-founder Travis Kalanick late past year. Uber is "happy to put it behind us", he said.

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